MoonPay has entered a definitive merger agreement to acquire North Capital Investment Technology in an all-stock deal valued at over $60 million.
The move consolidates regulated securities infrastructure directly into MoonPay's platform. North Capital operates as an SEC-registered broker-dealer and investment advisor, with its PPEX alternative trading system currently supporting secondary trading for over 1,250 approved assets. The platform has facilitated more than $8.7 billion in primary and secondary transaction volume to date.
This acquisition positions MoonPay to scale tokenized real-world assets (RWAs) by folding in North Capital's clearing capabilities and ATS infrastructure. For investors and market participants tracking the RWA narrative, this deal signals how digital asset firms are systematically acquiring legacy regulated rails rather than building them from scratch.
Ivan Soto-Wright, CEO and founder of MoonPay, said that financial markets are increasingly technology-driven and that MoonPay is building the regulatory foundation to support mass adoption of tokenized real-world assets.
James P. Dowd, founder and CEO of North Capital, said the combination would expand access and liquidity in private markets, leveraging MoonPay's global financial technology platform reach.
North Capital will operate as a wholly owned subsidiary of MoonPay. The boards of both companies unanimously approved the transaction, which is expected to close in 2026 subject to customary closing conditions and regulatory approvals.
